Open AccessEstimates and Bids - A Forensic Approach
Author(s) -
Arthur Monsey
Publication year - 1991
Publication title -
journal of the national academy of forensic engineers
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.102
H-Index - 1
eISSN - 2379-3252
pISSN - 2379-3244
DOI - 10.51501/jotnafe.v8i1.479
Subject(s) - arbitration , statistical analysis , actuarial science , econometrics , lead (geology) , economics , computer science , law , mathematics , statistics , political science , geology , geomorphology
The differences between contract prices and estimates can be very annoying at the minimum and now and then can lead to litigation. How to prepare an analysis for arbitration or litigation for this problem is discussed. To do this requires some knowledge of what might cause this problem in addition to some of the statistical principals that be governing the behavioral relationships between estimated budgets and bid prices. The author proposes a hypothesis.